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Real estate sector: In September purchase and sale operations in CABA grew by 25% - Infobae
Source:
www.infobae.com
October 26, 2023
In the midst of the rental crisis, the market continues to mobilize with real estate transactions. During the past month, almost 4,000 records were recorded according to Buenos Aires notaries.
The average amount of operations was $36.8 million. Photo: Juan Vargas
The real estate market of the City of Buenos Aires (CABA) lives two parallel realities. On the one hand, it is going through one of the biggest crises in its history in the rental business - supply continues to fall despite the modification of the law - but at the same time it is within a marked trend of rebound in the amount of purchase and sale operations.
According to data published by the College of Notaries of the City of Buenos Aires, during September 3,954 acts of deeds of purchase and sale of real estate were carried out, for a total amount involved of $145,660 million. The number of operations represented an improvement of 25.1% compared to the same month last year, while the money committed represented a nominal annual increase of 282.1%.
Real estate
As statistics show, the ninth month of the year left very good results for the real estate sector in the branch of the buying and selling business. In fact, the entity's historical data indicates that the September 2023 result was the best in the last six years. To find a ninth month of the year with the highest level of activity, we must go back to 2018, when there were almost 6,000 operations in CABA.
As a mitigating factor, it can be mentioned that in September of this year there was a decline of 4.4% compared to last August, when 4,135 deeds were signed, but even so, businessmen in the sector consider that this is a favorable result.
The average amount of the acts was $36,838,761 (100,391 dollars according to the average official exchange rate): it grew 205.5% in one year in pesos, and in US currency it rose 25.1%.
Meanwhile, in September there were 169 deeds formalized with a mortgage, which marked an increase of 43.2% compared to the same month last year for this type of operations. In the accumulated nine months, the growth was 9.5% for deeds with a mortgage (1,130 in total).
“We are once again in a context of 4 thousand operations and they were achieved in the most volatile months of the year,” explained Jorge De Bártolo , president of the CABA College of Notaries.
“What we see in the notary offices is that there is a predisposition to reach purchase and sale agreements: families that have already allocated their savings for housing know that this is their priority. This month there was an interannual increase of 25% and in the accumulated 9 months there is a growth of 18% with 27 thousand operations. There is still a long way to go to rebuild the market, but we appreciate that we have had 17 months of year-on-year growth,” said the manager.
Scriptures September 2023
Looking to the future, De Bártolo considered that the new Government that is elected on November 19 must be clear that a stimulus to housing generates a virtuous circle for all economic activity. “We must work for stability and growth, that will naturally help the entire market: the buying and selling market and the rental market,” said De Bártolo.
In that sense, it is important to remember that the CABA rental market currently has an extremely low level of activity. The supply is extremely low, there are almost no two-room apartments and prices increased more than 230% in the last year. Beyond the modification of the rental law, entrepreneurs in the sector continue to wait for changes in the market that will allow a real recovery of activity.
www.buysellba.com
Source:
Sector inmobiliario: en septiembre crecieron 25% las operaciones de compra-venta en CABA
En medio de la crisis de los alquileres, el mercado se sigue movilizando con transacciones de inmuebles. Durante el mes pasado se contabilizaron casi 4.000 registros según los escribanos porteños
www.infobae.com
October 26, 2023
In the midst of the rental crisis, the market continues to mobilize with real estate transactions. During the past month, almost 4,000 records were recorded according to Buenos Aires notaries.
The average amount of operations was $36.8 million. Photo: Juan Vargas
The real estate market of the City of Buenos Aires (CABA) lives two parallel realities. On the one hand, it is going through one of the biggest crises in its history in the rental business - supply continues to fall despite the modification of the law - but at the same time it is within a marked trend of rebound in the amount of purchase and sale operations.
According to data published by the College of Notaries of the City of Buenos Aires, during September 3,954 acts of deeds of purchase and sale of real estate were carried out, for a total amount involved of $145,660 million. The number of operations represented an improvement of 25.1% compared to the same month last year, while the money committed represented a nominal annual increase of 282.1%.
Real estate
As statistics show, the ninth month of the year left very good results for the real estate sector in the branch of the buying and selling business. In fact, the entity's historical data indicates that the September 2023 result was the best in the last six years. To find a ninth month of the year with the highest level of activity, we must go back to 2018, when there were almost 6,000 operations in CABA.
As a mitigating factor, it can be mentioned that in September of this year there was a decline of 4.4% compared to last August, when 4,135 deeds were signed, but even so, businessmen in the sector consider that this is a favorable result.
The average amount of the acts was $36,838,761 (100,391 dollars according to the average official exchange rate): it grew 205.5% in one year in pesos, and in US currency it rose 25.1%.
Meanwhile, in September there were 169 deeds formalized with a mortgage, which marked an increase of 43.2% compared to the same month last year for this type of operations. In the accumulated nine months, the growth was 9.5% for deeds with a mortgage (1,130 in total).
Positive balance
Although the number of real estate purchase and sale operations in CABA had a slight decline compared to August, the sector was optimistic about the results achieved and highlighted the importance of achieving growth in relation to previous years.“We are once again in a context of 4 thousand operations and they were achieved in the most volatile months of the year,” explained Jorge De Bártolo , president of the CABA College of Notaries.
“What we see in the notary offices is that there is a predisposition to reach purchase and sale agreements: families that have already allocated their savings for housing know that this is their priority. This month there was an interannual increase of 25% and in the accumulated 9 months there is a growth of 18% with 27 thousand operations. There is still a long way to go to rebuild the market, but we appreciate that we have had 17 months of year-on-year growth,” said the manager.
Scriptures September 2023
Looking to the future, De Bártolo considered that the new Government that is elected on November 19 must be clear that a stimulus to housing generates a virtuous circle for all economic activity. “We must work for stability and growth, that will naturally help the entire market: the buying and selling market and the rental market,” said De Bártolo.
In that sense, it is important to remember that the CABA rental market currently has an extremely low level of activity. The supply is extremely low, there are almost no two-room apartments and prices increased more than 230% in the last year. Beyond the modification of the rental law, entrepreneurs in the sector continue to wait for changes in the market that will allow a real recovery of activity.
www.buysellba.com
